American Building Control board members, CEO resign
LEWISVILLE, Texas - American Building Control, formerly known as Ultrak, saw changes in its top levels of management as the companyÃ¢â‚¬â„¢s chief executive officer and three members of the board of directors announced their resignations.
Company officials did not say in a press release why Chief Executive Officer Niklaus Zenger resigned, but attributed a new business strategy at the company to his tenure.
The strategy included the December 2002 sale of UltrakÃ¢â‚¬â„¢s CCTV division to Honeywell, and restructuring of the company into core business units, reducing operating expenses and increasing profit margins.
Ã¢â‚¬Å“When I had to take over, the company was in a very difficult situation,Ã¢â‚¬Â Zenger said. The company today is well positioned to service future security needs with a talented employee pool, he said.
Zenger became CEO last summer after the resignation of George Broady a few months prior; the two shared leadership after then President and CEO Peter Beare left the company.
Bryan C.W. Tate, a member of the board of directors since October 2001, will become CEO. Tate was formerly the head of Digitel, a privately held telecommunications company in Atlanta.
In addition to ZengerÃ¢â‚¬â„¢s resignation, Gerard Codeluppi, Michael Morris, and Oliver Stahel all resigned from the companyÃ¢â‚¬â„¢s board of directors on Jan. 1.
Company officials did not release the reasons for the trioÃ¢â‚¬â„¢s resignation, but Tate indicated in a release that the company might be interested in working with the three in the future.
Ã¢â‚¬Å“We appreciate the hard work and contribution that (they) provided during a challenging period over the last year,Ã¢â‚¬Â said Tate in a release. Ã¢â‚¬Å“We would like to continue to benefit from their extensive contacts and experience for future business development,Ã¢â‚¬Â Tate said.
Lance Borvansky has been appointed an independent member of the board of directors. Officials said they expect to nominate another board member in the coming weeks.